NEW YORK, Nov. 18, 2019 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Lipocine Inc. ("Lipocine" or the "Company") (NASDAQ: LPCN) and certain of its officers, on behalf of shareholders who purchased Lipocine securities purchased between March 27, 2019, and November 8, 2019, both dates inclusive. Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/lpcn.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the results from Lipocine's clinical studies of TLANDO were insufficient to demonstrate the drug's efficacy; (2) accordingly, Lipocine's third NDA for TLANDO was highly likely to be found deficient by the FDA; and (3) as a result, the Company's public statements were materially false and misleading at all relevant times.
On November 11, 2019, Lipocine announced receipt of a Complete Response Letter ("CRL") from the U.S. Food and Drug Administration regarding its New Drug Application for TLANDO, Lipocine's product candidate for testosterone replacement therapy. Lipocine advised investors, inter alia, that "[t]he CRL identified one deficiency stating the efficacy trial did not meet the three secondary endpoints for maximal testosterone concentrations." On this news, Lipocine's stock price fell sharply during intraday trading on November 11, 2019.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/lpcn or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Lipocine you have until January 14, 2020to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.